Business Overview of Status Marine
30 September 2008
Status Marine LLC strives to deliver the highest quality seafood fished from the Atlantic and Indian oceans surrounding the Southern Africa continent into the ever expanding North American wholesale and retail markets. Our goal is simple, to build long lasting, mutually beneficial relationships with a limited number of large companies rather than facilitate a diluted portfolio of customers. It is the personal touch we add to our transactions that sets us apart from the norm. Product Quality is always held, paramount, as the key component to success, however, we do try to deliver the most cost effective approach to all transactions for both supplier and customer creating an economic equilibrium that is fair at all levels. Status marine: History Status Marine, LLC was formally incorporated in 2007 as a legal corporate entity operating within the United States of America. Prior to this the owner and founder of the company was affiliated with a number of companies in South Africa acting as a representative to both Europe and American clients. Status Marine is a vertically integrated distributor, from the vessels on the water, to our processing facility in the Western Province of South Africa, and on to our marketing department in the US. Our processing facility in South Africa enables us to be flexible to the processing needs of our customers while our marketing department in California ensures immediate assistance is never more than a phone call or e-mail away, a competitive advantage setting us apart from all competition. This well vetted and experienced management team, coupled with the efficiently organized market structure based in the US has allowed Status Marine to thrive. The owner of the company was born and raised in South Africa, so his firsthand knowledge of the fishing industry coupled with the personal ties with many of the vessel/fishing company owners distinguishes Status Marine from the majority of importers and ensures that we always obtain the most cost effective and highest quality products. This has allowed us to gain access to supply at drastically lower costs than most other competitors putting us in a league of our own.
Capital Turnover Flow Diagram:
*1. Purchase of raw material, Capital Outlay
2. Processing and Packaging (+/-1 week)
3. Shipping via Ocean Freight (3 weeks)
4. Clearing and Trucking to Customer Cold Storage (1 week)
5. Payment received if COD OR Terms: 30 to 45 Days
Status marine: Present
*At present *Status Marine *has the ability to serve all of the continental United States of America and even international cliental from Europe to Asia. Our core market areas are:
- Eastern Coast, USA
- Western Coast, USA
Supplying three main product lines:
- South African Cold Water Rock Lobster tails (the most sought after in the world)
- Farmed White Shrimp (Paneaus Vannamei) - Sole exporting rights
- Frozen Fin Fish - SA Sea bass, South Atlantic Butterfly Kingfish, Mahi-mahi to name a few.
Each day *Status Marine *is in business new and exciting products become available from various vessels in South Africa, many of which would be both excellent and cost effective substitutes and/or compliments for some of America's most staple seafood commodities. This remains the predicament *Status Marine *finds itself in, a position where there is abundant supply and demand but strained in not having the liquid capital to purchase the much sought after product. In order for us to benefit from these products, we require additional capital to facilitate the purchase of the raw material. Once purchased the additional funds would allow us to continue expanding therefore to continue to procure and processes product while payment is expected for the processed and shipped container. With a Capital Turnover Ratio calculated at 5.05, implying turnover of shareholder equity around 5 times a year and an approximate transaction completion time of 4 to 8 weeks.
Status marine: Future
In the 13 months since incorporation, Status Marine has realized over $1 million in gross revenue. This level of growth is expected to continue well into the future as consumer demand for quality, cost effective seafood products continues to grow even in the midst of an economic slowdown in world economy. In the United States of America and the world, demand for frozen seafood has never been as high as it is at present. In addition to the demand, fish catches in many parts of the world are recording record lows; South Africa offers a bounty of seafood with no slowdown experienced or forecasted. Statue Marine, with our well established supply lines, processing facility and management expertise, is primed to capitalize on this market disequilibrium.
Status marine: About the owner and Region Born and raised in South Africa, Jethro Levi Naude graduated with a Bachelors Degree in Economics and Accounting and is in the final phase of attaining his Masters degree in Economics from California State University, Long Beach. He attributes his success to not only his level of education but to the five years working in both the private and public sectors in various levels of finance. Much of Jethro's fishing industry experience has come from working directly with Kyga Fishing Trust over the past 10 years. Eric Naude with more than 25 years industry experience, owner of Kyga Fishing Trust, father of Jethro Naude and investor of Status Marine has been instrumental in educating and guiding Jethro in all aspects of the seafood industry which has helped Status Marine to thrive.
South Africa is a democratically structured; politically stable country often referenced as the 'beacon of hope and prosperity for the African Continent'. Its economy has been registering +/-5% GDP growth for the better part of the previous decade and has continually attracted large scale investment from the international community. Our partner, Kyga Fishing Trust, is a fully fledged BEE company that is both HACCP and SABS (FDA equivalent) certified.
Please feel free to browse our website at www.statusmarine.net for more information; we encourage you to become a part of this undeniably exciting business prospect.
Thank you for reading this, I look forward to hearing from you,
Status Marine, LLC